Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan & Ian talk to Lucas Peters, founder of Journey Beyond Travel (https://www.journeybeyondtravel.com/), about his plans to get to $10M in 5 years.
They break down the business and shift thinking from a project-oriented mindset to an approach rooted in financial analysis: What are your gross margins? What does it take to aquire a customer? What is your rebuy rate and LTV?
They consider the highest leverage paths to growth.
Want to get in the company of other entrepreneurs to help you kickstart your 2025 goals? Submit your application to join Dynamite Circle at https://dynamitecircle.com/ (https://dynamitecircle.com/)
Chapters
(00:03:08) Business Growth and COVID Impact
(00:04:08) Unique Business Model and Market Positioning
(00:04:47) Sales Process and Customer Engagement
(00:09:04) Revenue Model and Pricing Strategy
(00:13:02) Customer Retention and Repeat Business
(00:13:55) Expansion Plans and Market Opportunities
(00:14:43) Product Development and Cost Analysis
(00:14:56) Maximizing Customer Lifetime Value
(00:23:08) Strategizing Location Development
(00:25:32) Market Potential and Capacity Constraints
(00:31:23) Building a Supportive Team
(00:32:38) Testing New Product Offerings
(00:35:31) Driving Down Product Development Costs
(00:37:53) Final Thoughts and Future Directions
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients” (https://tropicalmba.com/episodes/4-eye-opening-lessons)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)

Dan and Ian discuss the importance of three key executive roles—CEO, COO, and CFO—within bootstrapped businesses, emphasizing the need for founders to embrace responsibilities beyond visionary tasks.
They share insights from this year’s DCBKK and a sneak peek into the upcoming DC Black event in New York.
(00:00:22) Welcome and Introduction
(00:01:03) The Three Hats of Bootstrapping
(00:09:51) Trends from DCBKK Event
(00:12:34) The Importance of Financial Planning
(00:19:30) LinkedIn as a Top Funnel Tool
(00:22:50) Reflections and Future Events
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)

This week’s episode is for the business finance and idea nerds.
We’re joined this week in a business breakdown session with Alexej Pikovsky of Alphawellbrands.com. Alexej raised 4MIL to build a CBD marketplace. They were forced to pivot and have currently acquired an Amazon FBA brand and started up a success agency in the process, the combined revenue of both is on track to be over 4MIL this year.
We’ll dig into the Peter Paul problem– how to choose where to focus your energy when you have multiple businesses?
We’ll also cover his perspective on what happened in the Amazon aggregator space. How did so much capital implode so quickly? (Thrasio raised 3 Billion dollars and provided exits to many TMBA listeners). Is there room for smaller roll-ups that work in 2024?
Takeaways
●
● Transition from a CBD marketplace to an SEO agency and FBA brand.
● The aggregator model faced significant challenges post-COVID.
● Many D2C brands are struggling with profitability and valuation.
● Acquiring the scented candles brand was a strategic move in a declining market.
● The agency provides valuable insights but distracts from brand focus.
● Investor relations are crucial for long-term success and exit strategies.
● The e-commerce landscape is evolving, requiring new strategies for success.
● The agency's role in the overall business strategy is under review.
● Future growth may depend on focusing solely on the brand.
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients” (https://tropicalmba.com/episodes/4-eye-opening-lessons)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)

Selling your product or service requires using words to convey what you offer. But words alone don’t convert on-the-fence prospects into paying customers. Great conversion copy is a mix of persuasion, UX, and decision-making psychology. Sound hard? We promise it isn’t.
Chris, the founder of Conversion Alchemy (https://christophersilvestri.com/), takes us for a deep dive into all things copywriting and how the power of your messaging can impact your business growth, for better or worse.
Plus, he shares a simple five-step copy audit process that transforms agency websites into lead generation machines, with principles you can apply to improve your own marketing collateral.
Tune in for writing tips, principles, and examples you can copy. Newsletter subscribers (https://tropicalmba.com/subscribe) will get the 5-step worksheet to help you create your own offer in 30 minutes.
Takeaways
- Empathizing with the client's problem, understanding your audience's language, and identifying audience awareness levels is crucial for effective messaging.
- A clear value proposition resonates with prospects’' goals and increases engagement.
- Clarifying what you do and how, backed with empathy, builds trust with potential clients.
- Contextual proof enhances credibility and addresses objections, creating a smoother client experience.
- Shielding clients from risk reassures them during the decision-making process.
- The “coffee table test” helps tailor messaging to the audience.
- AI can assist in drafting copy but should not replace personal insights.
- Tripwire products can effectively lower barriers to entry for clients.
- Analyzing successful agency websites can provide valuable insights.
- Dynamic frameworks for copywriting are more effective than rigid formulas.
- Leveraging testimonials can significantly boost credibility.
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
“The 4 Most Eye-Opening Lessons I’ve Learned From My Coaching Clients” (https://tropicalmba.com/episodes/4-eye-opening-lessons)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)

Dan and Ian talk to 100s of listeners a year via 1:1 coaching. In this episode they distill those calls into 4 breakthrough ideas that can change your quarter for the better.
Newsletter subscribers will get our GPS (Goals/Plans/Systems) worksheet. Sign up for the newsletter. (https://tropicalmba.com/subscribe)
Takeaways
● Be sure you pack enough underwear for your next trip abroad.
● Getting aligned on goals is easy, but aligning on plans is hard.
● Hiring should be based on unique business needs, not generic roles.
● Confidence is essential for entrepreneurs, especially in challenging times.
● Discipline in financial management is crucial for sustainable growth.
● Regularly reviewing financials helps maintain business health.
● Accountability in coaching can drive significant progress.
● Sacrifices are often necessary to achieve business goals.
● Effective hiring requires a clear understanding of ROI.
● Facing reality and challenges can build confidence.
● Entrepreneurship allows for a lifestyle designed by personal choice.
In honor of traveling to DCBKK this week, here’s Dan’s original packing list (https://tropicalmba.com/articles/digital-nomad-packing-lis/) from 2010. And an updated list (https://tropicalmba.com/episodes/packing) in 2015. Is it time for a new list?
Chapters
- (00:00:59) Dan’s Packing List Ahead of DCBKK
- (00:02:28) 4 Breakthroughs From Our Coaching Calls
- (00:05:20) The Importance of Goal Alignment
- (00:09:54) Hiring for Unique Situations
- (00:16:36) Good Confidence vs Bad Confidence
- (00:21:03) Discipline in Entrepreneurship
Useful links:
Access our free business resources (https://tropicalmba.com/subscribe)
Connect with other entrepreneurs (https://dynamitecircle.com/join-dc/)
Coaching for $250K+ founders (https://dynamitecircle.com/dc-accelerator)
Community for 1M+ founders (https://dynamitecircle.com/dc-black)
Hire remote talent (https://remotefirstrecruiting.com/)
Find a remote job (https://dynamitejobs.com/)
Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
$30K a Month on Upwork in Less Than 2 Years (https://tropicalmba.com/episodes/30k-a-month-2-years)
“You’re Gonna Mess It Up The Way Everybody Messes It Up” (https://tropicalmba.com/episodes/everybody-messes-it-up)
“When is my LTV good enough?” + Founder Mode for Bootstrappers (https://tropicalmba.com/episodes/ltv-good-enough)
$100K MRR in 12 Months… Can They Do It? (https://tropicalmba.com/episodes/100k-mrr-12-months)